Eli5: I saw that Uber is still not making money, how is that possible, they have a lot of people working for them, worldwide known and also if they dont make any money how are they still alive?
In: Economics
Right now Uber gets to continue existing because it’s stock is $65.11 a share, up from $21.67 a share back in July of 2022. That’s it. That’s the only reason it hasn’t fully collapsed. It’s being propped up by speculative trading.
Let’s put that into better perspective. If you had bought 40,000 shares back in July 2022 near the bottom, you’d have invested about a million dollars. *$1,000,000* if you sold those 40,000 shares Friday at about $65/share, you’d walk away with about 2.5 million dollars or $2,500,000. Now, you still have to pay taxes, but you’d profit more than a million dollars after it’s all said and done.
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